Egypt is making significant strides in the global gold market, with projections placing the country among the top 20 gold exporters by 2026 and within the top 10 by 2027. This optimistic forecast was shared by Ihab Wassef, Chairman of the Precious Metals and Jewelry Division at the Federation of Egyptian Industries, during a press conference hosted by Minister of Supply Sherif Farouk to announce the latest edition of the NEBU 2024 Exhibition.
From 94th to 54th Place in One Year
Egypt has climbed from the 94th position in global gold exports in 2022 to 54th in 2023. This leap reflects the government’s proactive approach, which includes eliminating appraisal fees on gold exports, fostering collaboration between the Precious Metals Division and state authorities, and enhancing the competitiveness of locally manufactured gold products.
International Engagement at NEBU 2024
To further strengthen its export capabilities, Egypt is hosting 160 international buyers at the NEBU Gold and Jewelry Exhibition 2024. This initiative is expected to open new export markets and pave the way for lucrative trade agreements.
Global Trade Agreements
Discussions are underway to integrate Egypt into international trade agreements, such as the African Continental Free Trade Area (AfCFTA) and other treaties supporting gold exports. Such partnerships aim to enhance the global competitiveness of Egyptian gold products.
A Golden Future
With strategic reforms, industry growth, and a focus on innovation, Egypt is on track to becoming a global leader in gold exports. The upcoming NEBU 2024 exhibition serves as a pivotal platform to showcase the country’s potential and secure its position in the international gold trade.